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's to u.s. lawmakers: avert the fiscal cliff, or risk a credit downgrade. >> tom: i'm tom hudson. we're going global with legendary investor mark mobius, franklin templeton's top strategist on the state of emerging marketnow. >> susie: and picture this: the u.s. is just a few years away from being the world's top oil producer, and self-sufficient. we'll tell you who's making that prediction, and investment strategies for your portfolio. >> tom: that and more tonight on "n.b.r."! >> susie: the u.s.'s top-notch credit rating is at risk. that's the warning today from moody's investor's service. the ratings agency told u.s. lawmakers that when it comes to the fiscal cliff, the time to act is now, not next year. moody's said if action on averting the cliff is delayed until 2013, it might downgrade the stellar credit rating on u.s. debt. right now moody's has a negative outlook on the u.s. economy. worries about a fiscal freefall, kept wall street stocks in check: the dow and nasdaq fell a fraction, while the s&p was up a fraction. american businesses are not only concerned about the fisca
the country's economic challenges. they're particularly worried the fiscal cliff could weigh down u.s. growth into the new year. >> it's a pretty sad day for wall street. >> i don't think it's for the best of the country. i had a good feeling that romney was going to be a better candidate for the economy. not bowl. obama. >> many offices in history manhattan remain closed. new york city officials have struggled to turn power back on after hurricane sandy hit last week. >>> following an overnight plunge on wall street tokyo share prices are falling thursday morning. the key nikkei arm now currently standing at 8888. that is down 84 points, or just about 1%. investors placing sell orders on especially export-related issues. currencies, the dollar is currently being sold against the yen. worries about u.s. and european economies. the dollar/yen, 79.96-80.01. the euro/yen, 102.01-06. market players are buying the yen, it's regarded as a relatively safe asset amid pessimistic factors. those include the overnight sell-off on wall street, as well as the grim economic outlook for the eurozone which w
the u.s. life led on the sidelines of the east asia summit. the negotiators wanted to conclude a deal by the end of this year, but they couldn't agree on how to elimite taffs and they're still divided on other issues such as whether they will allow exemptions to the rules. australian prime minister julia gilliard said an ambitious deadline would be to reach agreement by next oblt. the negotiators will meet again next month in new zealand. >>> january 1, 2013 marks more than just the new year. for americans it could be the beginning of simultaneous tax hikes and spending cuts. >> talking about t fiscal cliff and everyone is talking about it including the u.s. federal reserve chairman ben bernanke. he warned the imminent fiscal cliff poses a stashlg threat to the nation's economy and does say cooperation to resolve budget worries could boost u.s. growth. >> the realization of all of the automatic tax increases and spending cuts that make up the fiscal cliff ab isn't offsetting changes would pose a substantial threat to the recovery. >> the central bank chief urged the government and con
. >> tom: i'm tom hudson. massive spending cuts and tax hikes are set to hit the u.s. economy on january first. by most estimates if we go over the cliff, the u.s. onomy will plunge into recession. >> susie: we look at the impact of the coming cliff and whether congress and the white house can strike a deal. >> tom: that and more tonight on n.b.r.! it was the chairman of the federal reserve ben bernanke who first called it a fiscal cliff. he described the coming automatic cuts in government spending and increases in taxes as, quote, "a massive fiscal cliff," end quote. here's what he was describing: on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. the congressional budget office and others warn going over the cliff will send the economy into a recession in the first half of next year. it was congress and the white house that set the deadline in hopes of forcing each other to cut
and led to the worst oil spill in u.s. history. inits guilty ple b.p. saidt deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the men who died when the "deepwater horizon" exploded. >> perhaps the greatest tragedy is that the deaths of the 11 men on board the "deepwater horizon" could have been avoided. the explosion of the rig was a disaster that resulted from b.p.'s culture of privileging profit over prudence. >> reporter: b.p. has agreed to plead guilty to 11 counts of felony manslaughter and one felony count of lying to congress. in addition, two b.p. supervisors on the deepwater rig have been charged with 23 counts of manslaughter. another b.p. executive was charged with lying to congress. b.p. will also pay a record- setting $4 billion in criminal fines and penalties. thrown in with the criminal charges is a civil settlement with the securities and exchange commission. b.p. will pay more than h
. that means palestinians have gained more powers but u.s. and isiseli leaders argue it throws up more barriers on the road to peace. >> reporter: it was a historic day for palestinians. before the vote palestinians president made his last plea to gain the support of delegation from u.n. member states. >> translator: i am hoping everyone's decision will give a birth certificate to the state of palestine. >> the assembly voted on a resolution to award palstines nonmember state. >> the result of the voting is as follows. in favor, 138. opposed, 9. abstentions, 41. >> reporter: an overwhelming majority voted in favor. among the minority who voted against resolution were israel and the united states. they argue that the palestine state hood should be negotiated between the two parties first. thursday's vote was a significant victory for the palestinians after their bid to gain full u.n. membership was shelved in the security council. being recognized as a state pal stain my exercise its new right to investigate alleged war crimes by israel. critics say it would the detrimental. it remains to be see
program. he'll likely ask china to persuade the north to skrapt launch. u.s. analysts said recent satellite photos said pyongyang may fire another missile. north korean military leaders launched what they called a satellite from the same pace in april. western intelligence analysts said the device, which crashed, was a long-range missile. >>> people at a japanese electronics company are interested in strength ning their renewable energy department. ai uchida from the business desk joins us now. >> i want to tell you specifically about rechargeable batteries or storage batteries. they're use envelope households during pow area outages, they're useful to drivers who use them in place of gasoline. the people at nec in japan understand that this is a growing and important market. the japanese electronics firm will join the bidding for a bankrupt u.s. company making storage batteries. nec officials say they want to buy the failed batterymaker a 1, 2, 3 systems. the u.s. firm filed for bankruptcy protection last month. it will be up for auction in early december. sources say nec could e
is on assignment tonight. a repeated warning to washington-- if the u.s. goes over the fiscal cliff, it would push the economy into a recession. and late today, a top credit rating agency puts the odds of going off the cliff at 15%. plus, how g.o.p. economic policies could change as election day demographics change. that and more tonight on nbr! the u.s. economy would be driven into recession next year if the fiscal cliff is not solved in time. that's the warning again today from the congressional budget office. and the standard and poor's ratings agency said there's an increasing chance we will go over that cliff of tax increases and spending cuts. it puts the odds at 15%. still, s&p is optimistic about a solution, saying "the most likely scenario, in our view, is that policymakers reach sufficient political compromise in time to avoid most, if not all, potential economic effects of the cliff." both s&p and the congressional budget office warned unemployment would go over 9% by the end of next year if the cliff is triggered. those s&p comments hit the market in the last 30 minutes of trading, ext
leaders are concerned about what's happening in the u.s. why should they be worried? >> we've heard the fiscal cliff quite a few times. we're going to hear much about it and that's a fact. tax cuts are going to expire just as spending cuts kick in and many fear this will push the u.s. into a recession. the head of china's central bank knows how connected the global economy is. he said it would have an impact well beyond the borders of the united states. >> translator: many drins are concerned about the possible effects of a fiscal cliff. the global economy faces a number of uncertainties which are making it hard to judge china's economic forecast for next year. >> some indicators are rebounding and the economy is stabilizing. >> the nikkei is down over 1% from thursday's close around 101 points. investors selling stocks. that's after the dow jones suffered more than 120 points. investors concerned about the u.s. fiscal cliff issue. let's switch to currency as well. let's have a look at the currency levels now. 79.50 to 51. euro 101.30. a possible delay in greece receiving financial
country is ready to do what it takes to defend its people. u.s. president barack obama spoke with netanyahu. they agree they need to stop attacks. morsi says the israelis must realize their aggression will only lead to instability in the region. iran has condemned israel's military assault on the gaza strip. the iranian foreign minister had to convince israel to stop its military aggression. >>> another round of talks on iran's nuclear program is about to resume. negotiators will meet in brussels next week in their latest attempt to move the discussions forward. negotiations between the six nations and iran have been suspended since they last met in june in moscow. the two sides have failed to make any significant progress on the issue. they are demanding iran halt its program. it's concern that the end product could be used to develop nuclear weapons. foreign policy chief kathryn ashton and negotiators of the six countries will discuss a new nuclear proposal for iran. >>> the company responsible for the massive gulf of mexico oil spill is facing the largest criminal fine in
. tom will be along later in the program. congress officially gets back to preventing the u.s. economy from falling off the fiscal cliff. while washington struggles on a fiscal cliff deal, what should you do about your portfolio? jeff applegate has some answers. he's chief investment officer at morgan stanley smith barney. and home depot hammers home strong gains and lays the foundation for a strong quarter ahead. that and more tonight on "n.b.r." it was another day of cliff- watching here on wall street today. investors and traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned to work for the first time since september. lawmakers face a long "to-do list," and g
. >> tom: the u.s. economy was hotter than first thought this summer. in the newest data on the gross domestic product, the economy grew in the third quarter at its fastest pace of the year. e revis report said the economy grew at a 2.7% clip. that's well above the previously reported 2% growth. adding fuel was restocking inventories, which is not expected to continue. higher federal government spending and stronger u.s. exports also helped. the impact super-storm sandy has had on the job market seems to be dissipating. 23,000 fewer americans filed for first-time unemployment benefits during thanksgiving week compared to a week earlier. the total was 393,000. it had jumped to over 400,000 in the weeks following t storm. still, we saw just modest gains on wall street today-- the dow rose 36 points, the nasdaq was up 20, and the s&p 500 added six. >> tom: the roster of companies announcing special one-time paydays for their shareholders continued growing today. taxes on stock dividends are currently set at 15%. but with no deal on the fiscal cliff, dividends will be taxed like regular i
history of debt in the u.s.; and h.i.v. infections in young people. but first, the other news of the day, here's hari sreenivasan. >> sreenivasan: wall street lost ground today over renewed concerns that deficit talks in washington are not making progress. the dow jones industrial average was down 89 points to close at 12,878. the nasdaq fell nine points to close below 2968. earlier, there were more signs of a recovery home prices went up in most major u.s. cities by 3% in september compared to a year ago. america's ambassador to the u.n. failed to mollify senate critics today on the attack at the u.s. consulate in benghazi, libya. susan rice met with republican senators who've criticized her for saying-- five days after the attack-- that anti-american protests were to blame. in fact, u.s. officials already knew it was a terrorist strike. today, rice blamed faulty intelligence. but senator lindsey graham said he was unimpressed. bottom line, i'm more disturbed now than i was before that the 16 september explation about how four americans died in benghazi libya by ambassador rice i think
to the impact of superstorm sandy. dealers' attention now focused on the very important policy watch, the u.s. jobs data, which will be out on friday, as well as the u.s. presidential election next week. so a lot to watch out for. back to the studio. >> a lot to watch out for indeed, thank you very much. our business reporter at the tokyo stock exchange. >>> that's all for business news for this hour. i'll leave you with a recap of the markets. >>> u.s. president barack obama would be speaking to crowd after crowd in swing states if it hadn't been for the storm. he has less than a week to convince undecided voters. st americans have already examined his record over the past four years. he started his term with a sentiment offered by many of those who came before him. >> that america can change. our union can be perfected. >> many americans have grown tired of what their country had come to represent under george w. bush. obama promised change at home and abroad. he brought an end to the war in iraq. he said u.s. combat forces would pull out of afghanistan by the end of 2014. and he promised t
the u.s. he said american official leaders have promised to minimize the global consequences of official tightening. >>> president barack obama and mitt romney are making their final pitches before americans head to the polls. obama visited three swing states. he told a crowd in wisconsin that romney would resurrect the republican policies of four years ago and preserve tax cuts for the wealthy. >> it's a choice between returning to the top down policies that crashed our economy or a future that's built on providing opportunity to everybody and growing a strong middle class. >> romney also campaigned in swing states. he told an audience in florida that obama had failed to deliver on promises to reduce the economic burden on americans. >> tomorrow we begin a new tomorrow. tomorrow we begin a better tomorrow. this nation is going to begin to change for the better tomorrow. >> the latest poll from abc news and the washington post suggests 50% of likely voters will cast their ballots for obama. 47% for romney. polls indicate a close race in eight states. some suggest the candidates are runni
of early elections. one of the world's biggest consumers of fuel may be self-relia self-reliant. u.s. us a makers churn out car after car but it seems americans will making more fuel to power them. >> that's light. industry analysts expect a major shift will take place in the near future. we're hearing the united states will become the world's largest oil producer in the next five years. the iea said u.s. oil output would surpass saudi arabia. commercial production has already begun. the agency says the u.s. will be nearly self-sufficient in energy by 2035. that's due to an expected surge in production of shale gas. a type of natural gas trapped in under ground rock. america relies on it for 20% of import needs. now let's get a check on the markets. the yen is losing ground slightly against the dollar and the euro. dollar/yen is changing hands at 79.57 and the euro/yen is quoted at 100.99 to 104. debt stricken greece could get bail out funds. share prices are rising slightly in tokyo. this morning the index stands at 8,695. that's up about two-tenths of a percent. the index fell six days
can do if the u.s. heads into recession because of the fiscal cliff, bernanke says, not much. >> in the worse case scenario, where the economy goes off the broad fiscal cliff, the largest fiscal cliff, which, according the c.b.o. and our analys, would send the u.s. economy into recession, i don't think the fed has the tools to offset that. >> susie: members of the audience agreed. >> he was very frank in saying, you know, "we can try," he essentially said, "we will try, but we don't have anything in our arsenal that comes close." >> susie: bernanke is already using the weapons in his arsenal to fix the job market, which he said today is still "unhealthy". he also repeated the fed's plan to keep interest rates super low at least into 2015. >> we will want to be sure that the recovery is established before we begin to normalize policy. we hope that such assurances will reduce uncertainty and increase confidence among households and businesses. >> susie: but bernanke gave no hints on when americans can expect to see higher rates. >> the further we go down the road, the question
charges and aees to pay the largest single criminal fine in u.s. history. we examine the legal resolution of the gulf coast spill, two years later. >> suarez: science correspondent miles o'brien asks an age old question. why do we sleep? the answer comes from an unlikely underwater source. >> no, you don't need more sleep? you're getting plenty of sleep right? are you getting plenty of sleep? yes. >> brown: china's new leader will head both the communist party and the military. we assess the change at the top in beijing. >> suarez: and we close with the story of volunteers stepping up to help victims of hurricane sandy in the borough of queens in new york. >> there's people who have been without attention for a long time. some with, some without running water. definitely without power. you know, so as time goes, it gets worse. and i'm afraid if we don't like, really get this situation under control. >> brown: that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. and b
: just finally quickly, evidence of a u.s. role there? >> i spoke to a u.s. official today about that. it's interesting. the u.s. role from what we hear is essential to offer words of encouragement to both sides. they keep stressing that egypt is really leading this and that they don't need this sort of push that one would expect. that said, there's a frustration in congress by the comments that hamid morsi, the president, made here in support of hamas. lindsey gham came out on sunday and said that congress was watching it very closely. the u.s. says that egypt is taking the initiative on its own, that the u.s. role is ancillary, that the u.s. is monitoring it. president obama has spoken to morsi. as recently as today. hillary clinton has spoken to her counterpart and the prime minister here that the u.s. does have a role. but that egypt is willingly leading the peace negotiations. >> woodruff: nancy yousef, on the story in cairo. nancy yousef with mcclatchy, thank you very much. >> thank you. >> woodruff: oline we have a first person account from journalist stephanie freid, who writes ab
reaffirmed egypt's commitment to the palestinian cause and a need for just resolution. u.s. secretary of state hillary clinton helped negotiate the deal. she promised to work with partners in the region. the israeli military killed about 160 palestinians during the conflict. palestinian militants fired rockets from the gaza strip that killed five israelis. prime minister netanyahu said the right thing is to reach a lasting cease-fire but he warned of a wider military operation if security was threatened. hamas leader mashau warned his forces would resume attacks if israel broke the truce. >>> people in jerusalem are wondering if the cease-fire will hold. cohey sue gee has covered the middle east for years. he was in gaza on the first day of the offensive. kohei, why did the two sides agree to this truce? >> reporter: well, thousands of rockets have been fired since israeli forces withdrew from gaza in 2005. the israelis seemed to have come to the conclusion that they succeed the in reducing the ability of hamas to attack. and i think the influence of the u.s. contributed to bringing a
on your day-to-day business? >> i'm looking more am i going to continue to grow outside of the u.s. or invest in my facilities in the u.s. in the main, that's still true, but you can't just act like everything is fine when it is not. and i don't know all of the details of his answer, but i can't imagine he said he is acting like nothing is going on out there. >> susie: so you talk about taxes, and taxes are at the center of all of these negotiations. are you open to new taxes? how would that impact your business? >> well, at the end of the day, we all recognize that we need entitlement reform in the country. that's actually the big nut. that's the thing that needs to happen. the only way you're going to get that, though, is by having some kind of tax increase.p4l& >> susie: well, i hope it all works out. thank you so much, david. we really appreciate your time. >> thank you, nice to be here. >> susie: we're speaking with david cote, c.e.o. of honeywell. >> tom: still to come, with the fiscal cliff fast approaching, more companies are offering special dividends with the threat of hi
captioning sponsored by macneil/lehrer productions >> ifill: general john allen, the top u.s. commander in afghanistan, is under investigation for sending messages to a woman linked to the scandal that forced c.i.a. director petraus to resign. good evening. i'm gwen ifill. >> brown: and i'm jeffrey brown. on the newshour tonight, we get the latest on what were termed "potentially inappropriate" e- mails and documents, and we examine if and when the white house and congress should have been alerted. >> ifill: then, the senate and the house of representatives get back to work. judy woodruff looks at the long list of challenges ahead. >> brown: one item on the agenda is the so-called fiscal cliff , and that was the focus of a white house meeting today with liberal leaders. we talk with two participants. >> ifill: plus, from "our food for nine billion" series, special correspondent mary kay magistad reports on china's moves to satisfy a growing demand for meat. it has transformed lives and diets over the past 30 years meat con suption per cap to has quadrupled and city dwellers e
of political solution? and what will the u.s. role be. >> i disagree with a lot of things that was said now. but one thing i very strongly agree. there is no political solution. and there can to the be a political solution because what you have in gaza is an organization dedicated it to the destruction of israel, dedicated to killing of jews. this is what they say openly. i mean this is not an interpretation of what they're saying. this is what they're saying. as long as the threat exists they will fight israel. they are committed to an anti-sellity-- anti-semitic of killing juice jews, it's in their charter n their document t is what they are openly saying. they are not leave israel alone regard will of what is happening. so once israel withdraws totally from the gaza strip they started shelling israeli cities. and i also agree that whatever israel can achieve, and it can achieve quite a lot. it achieved four years of tranquillity, relative tranquillity. but only can achieve relative tranquillity for a while and then it will come up again because the hamas is committed to the destruction o
the election. u.s. businesses added 171,000 jobs in october across many industries. four days after sandy, the gas crunch in jersey, access to cash in the northeast and controversy nixes sunday's running of the new york city marathon. that and more tonight on "n.b.r.!" we begin with jobs. employers beefed up their payrolls last month, adding more jobs than expected as more americans counted themselves among the labor force. the official labor department count shows 171,000 jobs were created last month. that's much stronger than the 125,000 analysts were looking for. and the government revised its september new job count up to 148,000. thanks to more people looking for work, the unemployment rate rose slightly to 7.9%. darren gersh has the story from washington d.c. >> reporter: the october employment report makes it clear a jobs recovery is solidly underway. >> i think the k message tre is that employment growth has been taken up a notch. over the last three months we've added over 170,000 jobs on average. that's a little bit better than what we've been seeing. that is enough over the lon
that that will plunge the u.s. economy into recession and an unemployment rate back over 9%. >> i'm about in agreement with them. i think there are a few details i'm looking for. i look for the bush tax cuts to expire, the payroll tax holiday to expire, and that tow moo is a 3% cracks of the fiscal budget, and that would, indeed, push, in my analysis, push the u.s. back into recession. >> tom: what's the impact if we go over the cliff but are able to pull oselves back, say, the first or second week in january. some are saying there are some odds of that happening. we could go over the cliff do see the threat but pull ourselves back. could there be damage done that's irreversible? >> there-- when you think about it, the fiscal cliff is sort of kind of a theoretical thing. the treasury, as we saw last year when we dealt with the debt ceiling crisis. the treasury has been groomed to adjusting so maybe the checks they can't write or the cuts they make might be later in the next few months. it gives them a little bit more te. the bush tax cuts, well, that would happen, but things could be grandfathered bac
days have been rough for the stock market. but, given those are the same eight days since the u.s. election, it doesn't take a geniuso figure out what's put investors in a funk. it's all about what's happening 200 miles from wall street. negotiations between the white house and congress are holding equities hostage. >> we are right now pricing in the instability of policymaking. politics are very difficult to forecast. if you think markets are difficult to forecast, try forecasting politics. >> reporter: if discussions are at impasse, stocks sink as they have for the past several days. if progress on the fiscal cliff is constructive, the market gains ground. but, floor broker doreen mogavero thinks today's gain were technical. >> i think honestly people were covering shorts. i don't think it was very euphoric rally where people were saying oh good now we can move on. i think people were saying better not be short going into this weekend in case the come up with a template for a deal before thanksgiving. >> reporter: prior to the election, the s&p 500 was up an impressive 13% for t
and wrapped themselves in the flag of patriotism and corruption against the u.s. and on the taiwan issue and against japan, so the ngre has taken place against a backdrop of rising military influence. >> rose:. >> and if i could ask richard on that to me it was a sign of some kind of order in the chinese process, rather than disorder to have this clean handover, the chairman of the military commission of not having jintao hang around for a year or two, it is a modest step of transparency and institutionalization? >> i think you can definitely argue that this basically reflects well on the system, they don't have the former leading hanging on by his fingernails in another important post, that is true. but -- and that is why some people compliment jintao for respecting the process but in ordinary power politics term, it certainly shows that jintao was a much weaker leader than we thought. >> we have never seen foreign policy statements from li keqiang be, scituate. >> we don't know how assertive the military should be. >> rose: reform. >> we don't know, that's what really comes -- and you
decide which party controls the u.s. senate. with the stakes so high, this race is attracting big money from lots of outside groups. the incumbent fighting to hold onto his seat is democrat jon tester. and he says he's not happy about all this outside money. >> we're going to see a ton of money spent in montana. we're seeing money earlier, more of it, and with more regularity. and i think we're in the process right now of building a campaign infrastructure that's going to be very difficult to pull down as time goes on. it's getting to be big, big, big money. >> ryssdal: big money is at the heart of this story. two years ago, the supreme court changed the landscape of campaign finance with a controversial decision in a case called citizens united. it let corporations and unions spend unlimited amounts of money in campaigns. but to avoid corruption, the court said the money can't go directly to candidates. it has to go to independent outside groups. the key word here being independent. one supporter of citizens uni is tester's opponent. >> see y'all later. >> ryssdal: six-term republican
, a longtime u.s. diplomat and mideast envoy, serving in the george h.w. bush, clinton, and obama administrations. he's now a counselor at the washington institute for near east policy. and khaled elgindy, a palestinian participant in the 2007 annapolis peace negotiations, and now a fellow at the saban center for middle east policy at the brookings institution. i want to start with you. your reading on where things stand tonight in termed of a pause or cease-fire. >> i do think the outlines of the cease-fire have probably been shapedded at this point. i think the secretary of state is there and has a chance to finalize this by, in a sense, becoming the, i think, the repository of the commitments that each side has made. i think one of the things that's going on right now is trying to make certain that all the understandings are understood the same way by each side and whatever promises are being made will now be promises made to her as well. in effect she becomes almost the holder of those as a kind of deposit. that, i think, is a chance for the cease-fire to actually be implement
heats up. >> tom: that and more tonight on "n.b.r."! >> susie: the u.s. presidential election is just one day away, and that was the hot topic here on wall street. but investors were still cautious about making major moves ahead of the election, so stocks posted just modest gains, and trading volume was light. the dow rose 19 points, the nasdaq added 17, and the s&p up three points. but, where stocks go from here may depend on who wins the white house tomorrow night. suzanne pratt reports. >> reporter: wall street is hardly back to normal, with reminders of hurricane sandy still obvious everywhere. but, at least the presidential election could provide a distraction for those coping with the storm's aftermath. the question is will the stock market continue to distract in the days following tomorrow's big contest? that may depend on its outcome. like many on wall street, nyse trader jonathan corpina predicts a mitt romney win will be a big win for stock prices. >> i think when you see new regimes, new presidents come in to play in sort of a turmoil time, that change is always viewed as
packaged foods sold in the u.s., and at 70 $billion, we're talking big business. conagra is known for name brands like pam, slim jim, and reddi whip, and it also makes some private label goods. ralcorp is the top manufacturer of growing store brand categories such as cereal and pasta, and it supplies companies like walmart and mcdonald's. together, conagra and ralcorp could become a private label powerhouse. and they might actually make store brand food that's good to eat. >> with this acquisition, what conagra can do that perhaps ralcorp couldn't is they can bring their expertise on the branded side on innovation and r&d, and elevate even more the quality of their products from where they are today. >> reporter: that means more americans are likely to find private label foods more palatable. suzanne pratt, nbr, new york. >> susie: that big conagra deal didn't get much attention on wall street today. investors were more concerned about the debt problems in europe and the fiscal cliff crisis here in the u.s. stocks fell late today after senate majority leader harry reid said lawmakers are m
with the development of long range missiles. u.s. researchers at johns hopkins university say the country has conducted at least two tests of large rock elt motors since the failed launch in april. one satellite image shows the removal of field tags and the appearance of exhaust screens. they say the sign tests have been carried out. another image shows similar discolorations and stains and an object that appears to be a large rocket engine. the analysis says that construction activity is under way launch an eve bigger rocket. it warns that north korea may start a new round of nuclear and rocket tests in the first half of next year. two south korean presidential candidates who joined forces for next month's election are thrashing out which one will stand. unaffiliated politician xiu and mu ching of the democratic united party struck a deal they won't stand against each other. south koreans have shown in polls a joint candidate would match the front-runner from the ruling party. members of both camps are currently discussing how to decide on who should stand. local media have proposed the idea of a tv
20th. >>> u.s. president barack obama declared his intention to raise taxes on wealthy americans. he says he wants to discuss this openly with republicans who control the house of representatives. obama on wednesday held his first news conference since re-election. he expressed strong concern about expiring tax cuts and automatic spending cuts referred to as the fiscal cliff. unless lawmakers can agree by the end of this year to extend the tax cuts for middle class, the economy could plummet. >> we should not hold the middle class hostage while we debate tax cuts for the wealthy. we should at least do what we agree on, and that's to keep middle class taxes lower. >> obama stressed the u.s. cannot afford to extend tax cuts for the wealthiest 2% of the population if it wants to reduce the country's mounting deficit. obama asked for cooperation from republicans. he said he is open to compromise and open to new ideas that could bring about a rise in tax revenues. >>> let's check on the markets. first, looking at currencies. just having a look at the dollar similar yen at 80.19-21. that's
. >>> in his four-day visit to southeast asia, president obama became the first u.s. president to visit myanmar, or burma. the president urged the new civilian government to continue its steps toward democracy. he also specifically called for more religious freedom. on a stop in thailand, the president visited bangkok's famous temple of the reclining buddha. he told monks there he needed prayers for help in his dealings with congress back home. >>> and heret home, those lawmake are negotiating with the administration over how to avoid the so-called "fiscal cliff" looming at the end of the year. this week, a group of christian leaders urged congress and the president not to cut anti-poverty programs as they struggle to reach a deal. in an open letter, the leaders said "we pray during this season, in which we give thanks and offer gifts, that you will advance policies that protect the poor, not ones that make them poorer." >>> meanwhile, a prominent christian advocacy group said while some progress has been made in fighting hunger and poverty worldwide, much more needs to be done. in its annual r
. the document warns the fiscal cliff would not only deal a heavy blow to the u.s. but might drag the global economy into recession. as for japan, the oect downgraded the outlook from 1.5% to 0.7%. they cited weak domestic demand. analysts urged the nation to compile detailed reliable plans for fiscal reform. u.s. consumer sentiment hit the highest level in more than four and a half years. researchers at analytics form the conference board say the consumer confidence index rose for a third straight month. the numbers rose to 73.7 in november, up from 73.1 in october. that's against a base value of 100 set in 1985. they say that the christmas shopping season started smoothly last weekend and the analysts are still concerned about the impact the fiscal cliff may have on consumer sentiment. the index is a key indicator of recovery and consumer spending which accounts for 70% of u.s. gross domestic product. now let's get a check on the markets. japanese stock prices are trading lower after four straight days of gains in the nikkei average is currently down half a percent at 9,375. now, investors
to get this economy going. >> woodruff: we have two takes on the battle for the u.s. senate, beginning with the big money being spent in the most competitive races. we talk with npr's tamara keith. >> brown: and from arizona, we have the story of a former surgeon general challenging a six-term congressman for an open seat >> woodruff: plus on the daily download, margaret warner looks at another way to reach out to voters with last minute messages on twitter. >> brown: that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: the losses in life and property kept growing today, in the wake of "sandy". the death toll reached 92 and the focus on physical damage shifted to new jersey, where the monster storm blasted barrier islands and other w
decades and teaches at the u.s. naval academy. and sari horwitz is an investigative reporter at the "washington post." sari, we have watchedded shoes dropping on this all weekend. what new have we learned today? >> hi, gwen. we're now learning a little bit more about how this investigation started and more of what the f.b.i. found. i mean there have been a lot of questions of why does the f.b.i. do an investigation into harassing emails? i mean lots of people get harassing emails. i get harassing emails but what we found today was that this woman jo kelly who was a friend of the petraeus family, and she lived in tampa, she actually knew an f.b.i. agent and mentioned to him that in june she mentioned to him that she had been receiving these very sort of troubling, strange, bizarre accusatory emails. and gave them to him. he started the investigation. that's how it began in june. and... >> ifill: as we watch this time line unfold, sari, we can't help but ask who knew what when? for instance, we gather that the justice department, the f.b.i. knew about this some time ago. but th
outside for the boss of the major u.s. jet maker who is taking early retirement. intel has struggled in the global shift. intel officials announced on monday that paul otalini will retire next may. they have started selecting his replacement. he became the fifth ceo in 2005. he built closer ties with apple. int intel's growth slowed as it fell behind in smartphones. intel saw its market value this month beat out by its rival. china has postponed the japanese merger for a third time. they are having to put off plan consolidation of their ship buildings operations. they are waiting on approval authities.se anti-trust officials from japan's second large largest shipbuilder say they will postpone their merger until january 1st. the shipbuilders are required. chinese officials have not completed the paper work. they are reportedly failing to respond to the japanese firms. there's falling global demand for ships. the two builders plan to merge to help them design energy efficient vessels. they are aiming the boost maritime operations. that is all for me for now. i'll leave you with the mar
on the "newshour": the economic troubles in greece; the shopping frenzy in the u.s. a day early; the lives of native americans and the demand for meat in china. but first, the other news of the day. in syria, rebel fighters gained more momentum in the east today. they seized a key army base at mayadeen and took control of its artillery stockpiles. to the north, syrian government warplanes flattened a building next to a hospital in aleppo overnight. at least 15 people were killed. the airstrikes damaged e of the last remaining sources of medical aid for civilians there. a taliban suicide bomber killed 23 people in a procession of shi-ite muslims in pakistan. the attack happened near midnight when the bomber tried to join a religious gathering in rawalpindi. at least 62 people were wounded, including six policemen. this is the latest in a string of bombings targeting shi-ites during their holiest month of the year. the u.s. ambassador to the u.n. defended her first account of the attack on the consulate in benghazi, libya. susan rice has come under fire by critics who say she gave misleading
, on a sunday talk show, of the attack on the u.s. consulate in benghazi, libya. at the time, she said it began as an anti-american ptest, but she now says she was working off faulty intelligence. rice met with collins for 90 minutes today, but afterward the senator remained critical. >> i still have many questions that remain unanswered. i continue to be troubled by the fact that the u.n. ambassador decided to play what was essentially a political role at the height of the contentious presidential election campaign by agreeing to go on the sunday shows to present the administration's position. >> sreenivasan: collins stopped short of joining other republican senators who have said they will oppose rice if she is nominated to be secretary of state. later, president obama again defended rice. he called her extraordinary, and cabinet members joined him in applause. a pair of suicide car bombers in syria blew themselves up today in a suburb of damascus. at least 34 people were killed. the twin explosions shattered buildings and left streets littered with rubble. in addition to the dead, the state
. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: the u.s. death toll from the giant storm named sandy has risen to at least 63 today. about 6.5 million homes and businesses are still without electricity though there were signs of daily life returning to its usual rhythm in some places. a familiar sound returned to lower manhattan streets last night. ( horns honking ) the power did not. police helped direct traffic with signals still dark, but one taxi driver said it wasn't worth the risk. >> it's been dangerous. i've got to go home, i'll walk. there's no traffic signal light, no nothing there. >> woodruff: you're going home? you're done? >> i'm done already. >> woodruff: it wasn't much easier for pedestrians who made their way on foot, some with only flashlights leading the way. >> it's really unsettling becauswe d't he por. we don't know what's going on. we don't have anywhere to get to televisions. >> woodruff: many people flocked to mobile charging stations across the city. plugging in cell phones and other devices. but today brought some sign of things
in need of a spark find one in october? u.s. employers across nearly all sectors were hiring, for a net gain of 171,000 new jobs. the labor department also revised its august and september figures higher, by 84,000. all told, it signaled slow but steady growth, and it was news that president obama wanted to play up in the campaign's final weekend, especially in one critical state. >> "oh (io), oh (io)" >> brown: the president made three stops in the buckeye state, starting in hilliard, just outside columbus. >> in 2008, we were in the middle of two wars and the worst economic crisis since the great depression. and today, our businesses have created nearly five and a half million new jobs. and this morning, we learned that companies hired more workers in october than at any time in the last eight months. ( applause ) >> brown: and the trend line seemed promising, as well. since july, the economy has added an average of 173,000 jobs per month, up from just 67,000 a month in the spring. at the same time, though, the unemployment rate ticked up a tenth of a point in october to 7.9% as more
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